Cullen Capital Management LLC Acquires 73,527 Shares of Omnicom Group Inc. $OMC

Cullen Capital Management LLC raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 7.3% in the second quarter, Holdings Channel.com reports. The fund owned 1,084,737 shares of the business services provider’s stock after acquiring an additional 73,527 shares during the quarter. Cullen Capital Management LLC’s holdings in Omnicom Group were worth $78,036,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Omnicom Group by 117.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,213,705 shares of the business services provider’s stock valued at $447,017,000 after purchasing an additional 3,362,411 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Omnicom Group by 38.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,514,628 shares of the business services provider’s stock valued at $324,782,000 after buying an additional 1,255,197 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Omnicom Group by 44.5% in the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock worth $323,040,000 after buying an additional 1,199,725 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Omnicom Group by 1,836.5% during the 1st quarter. AQR Capital Management LLC now owns 1,086,752 shares of the business services provider’s stock worth $89,114,000 after acquiring an additional 1,030,633 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Omnicom Group during the 2nd quarter valued at about $67,048,000. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OMC. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, UBS Group raised their target price on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $93.33.

Omnicom Group Stock Up 0.1%

OMC opened at $80.15 on Monday. The business has a 50 day moving average of $75.26 and a 200-day moving average of $74.80. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.28 and a beta of 0.75. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $91.86.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 21st. The business services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the company earned $2.03 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be given a dividend of $0.80 per share. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, December 19th. Omnicom Group’s dividend payout ratio (DPR) is currently 41.36%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.